Evolution Metals LLC reports $618M net loss for 2025; going concern warning issued

Evolution Metals & Technologies Corp.

Net loss of $617,996,000 for 2025, compared to $58,962,000 loss from Feb 2024 inception to Dec 2024.
Cash of $11.685M and working capital deficit of $659.955M as of Dec 31, 2025.
Auditor UHY LLP expressed substantial doubt about ability to continue as a going concern.
Business combination with Welsbach closed Jan 5, 2026, but without significant external financing at closing.
Management actively pursuing additional capital to fund operations and growth initiatives.

item 2.01 item 9.01

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accession 0001213900-26-036749

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